Chrysalis Investments – Turned a corner
On some measures, Chrysalis Investments (CHRY) seems to have turned a corner. The manager points towards the 6.5% jump in the NAV over the final quarter of 2023, encouraging news from many portfolio companies, a NAV enhancing (but unnamed) disposal in the works, and the prospects of a more supportive interest rate environment which it believes all help underscore the trust’s attractions. It also expects that shareholders will be happy to support the continuation vote scheduled for the AGM in March.The manager notes that CHRY’s share price may be a long way off its low from last March, but with the discount sitting at 46.2% and the chance of NAV-enhancing exits freeing up cash to fund NAV-enhancing share buybacks, it believes there is scope for it to move significantly higher.
Merian Chrysalis Investment Company Limited is a investment company. The Company's investment objective is to generate long-term capital growth through investing in a portfolio consisting primarily or equity related investments in unquoted companies. The Company focuses on investing in a diversified portfolio consisting primarily of equity and equity-related securities issued by unquoted companies. The Company will also focuses on investing in attractively valued minority, private investments with long-term growth rates substantially. Old Mutual Global Investors (UK) Limited is the Company's investment adviser.
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